Posted By:
Bruce Dorskind
If you plan to consign a considerable number of important pieces, you
should speak to each of the top five auction houses:
(1) Determine their level of interest
(2) Determine their knowledge of the material, the extent to which they
have a clientele who would pay top dollar
(3) Review and compare past performance over the prior 24 months
on comparable pieces
(4) Gain assusance that they will not include the same piece in similiar
condition from other consigners
(5) Garner an understanding of their system works on reserves; buy-backs
and item descriptions
(6) Ask for three references- and speak to them
(7) Check out their payment terms and fees= remember if they charge
15% to the winner and 10-15% to you- the ultimate buyer will bid
less as he is keenly aware of these fees and it will be reflected in his
bidding
(8) Negotiate agressively- I have found that I can get a 50% advance and
a negative commission (1/3 of the buyers fee) if the item is desirable enough
(9) Ask for a preview of write-ups
(10) Make sure that you can trust the professionals to pay
Sometimes it pays on certain items to consign to smaller firms because the
items will be lost in a large firms' catalog
Amongst the most knowledgable smaller auctions- Barry Sloate was far and
away the most professional person with whom I worked. Superior is strong
on psa 7-10 graded cards pre 1960. Lew Lipset does a very good job
on describing early pieces
Best of the Best Larger Firms
(1) Robert Edwards- far and away most knowledgabe; good business person-
the items I have given to Robert always set records- his knowledge and the level
of integrity are in a class by itself
(2) Mastro- a pleasure to work with since Doug is captaining the ship- catalogs
are too large--- and some great items can get lost- though I have never been
a big consigner
(3) David Hunt- great for obscure items- live auction concept has its pluses
and minuses. Easy to work with- very professional and well-liked.
(4) Christies and Sothebys'- great exsposure- a few super high profile items-
mid level items (5000-10,000) don't sell well - least flexible
(5) Others- without naming names- suffice it to say that one of the :majors" has
presented a sea of problems- whilst I never consigned- I have had to get my
money back on five pieces ofver the pasrt ten years because they turned out
to be fakes - a friend who consigned a major 19th century collection had
to wait 6 months to get his money- and their focus on celebrity consigners
leaves the sophsiticated collector no where- BAD ATTITUDE!!
Should anyone want references- let me know. I have acquired items with value
of over $4000 from 25 different auctioneers and I will be happy to share my
experiences of the pros and cons of each
In my forthcoming book, "When It Was a Hobby" I will rate each of the dealers
and auction houses=
Finally, four or five years agao VCBC ran annual surverys- whilst they are now
dated, they will tell you much
All the best.
Bruce